Cambiar Investors LLC Reduces Position in Regal Beloit Corp (RBC)
Cambiar Investors LLC cut its position in shares of Regal Beloit Corp (NYSE:RBC) by 10.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 466,827 shares of the company’s stock after selling 51,982 shares during the period. Cambiar Investors LLC owned approximately 1.04% of Regal Beloit Corp worth $25,699,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Genesee Valley Trust Co. boosted its stake in shares of Regal Beloit Corp by 3.0% in the second quarter. Genesee Valley Trust Co. now owns 3,733 shares of the company’s stock worth $206,000 after buying an additional 107 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Regal Beloit Corp during the second quarter worth approximately $15,596,000. New York State Teachers Retirement System boosted its stake in shares of Regal Beloit Corp by 5.4% in the second quarter. New York State Teachers Retirement System now owns 81,533 shares of the company’s stock worth $4,488,000 after buying an additional 4,200 shares during the last quarter. Oakbrook Investments LLC boosted its stake in shares of Regal Beloit Corp by 15.0% in the second quarter. Oakbrook Investments LLC now owns 4,600 shares of the company’s stock worth $253,000 after buying an additional 600 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its stake in shares of Regal Beloit Corp by 2.3% in the second quarter. CIBC World Markets Inc. now owns 8,334 shares of the company’s stock worth $459,000 after buying an additional 189 shares during the last quarter. 95.95% of the stock is owned by institutional investors and hedge funds.
Regal Beloit Corp (NYSE:RBC) traded up 0.03% during mid-day trading on Monday, hitting $59.51. 225,588 shares of the stock traded hands. The firm has a market cap of $2.66 billion, a PE ratio of 18.78 and a beta of 1.57. The stock has a 50 day moving average price of $60.52 and a 200 day moving average price of $60.25. Regal Beloit Corp has a 12-month low of $47.77 and a 12-month high of $68.45.
Regal Beloit Corp (NYSE:RBC) last released its quarterly earnings results on Monday, August 8th. The company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by $0.10. Regal Beloit Corp had a return on equity of 10.35% and a net margin of 4.30%. The company had revenue of $838.60 million for the quarter, compared to the consensus estimate of $857.88 million. During the same quarter last year, the firm posted $1.53 earnings per share. The firm’s quarterly revenue was down 11.0% compared to the same quarter last year. On average, analysts expect that Regal Beloit Corp will post $4.39 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, September 30th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.61%. Regal Beloit Corp’s dividend payout ratio (DPR) is 30.28%.
A number of brokerages have recently commented on RBC. Seaport Global Securities cut shares of Regal Beloit Corp from an “accumulate” rating to a “neutral” rating and reduced their target price for the company from $68.00 to $64.00 in a report on Tuesday, September 27th. Zacks Investment Research raised shares of Regal Beloit Corp from a “sell” rating to a “hold” rating in a report on Monday, September 19th. TheStreet raised shares of Regal Beloit Corp from a “hold” rating to a “buy” rating in a report on Thursday, August 18th. Credit Suisse Group AG reiterated a “buy” rating and set a $63.00 price target on shares of Regal Beloit Corp in a research note on Tuesday, August 9th. Finally, BMO Capital Markets lowered shares of Regal Beloit Corp from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $76.00 to $66.00 in a research note on Tuesday, August 2nd. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the stock. Regal Beloit Corp has a consensus rating of “Hold” and a consensus price target of $63.50.
In other news, VP Terry R. Colvin sold 1,615 shares of Regal Beloit Corp stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $62.47, for a total value of $100,889.05. Following the transaction, the vice president now owns 21,146 shares of the company’s stock, valued at approximately $1,320,990.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.
Regal Beloit Corp Company Profile
Regal Beloit Corporation is a manufacturer of electric motors and controls, electric generators and controls, and power transmission products. The Company operates through three segments: Commercial and Industrial Systems, Climate Solutions and Power Transmission Solutions. Its Commercial and Industrial Systems segment produces medium and large motors, commercial and industrial equipment, generator and custom drives and systems serving commercial heating, ventilation and air conditioning (HVAC), and power and oil and gas systems.
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